Expeditors International of Washington (NASDAQ:EXPD) revealed its
first quarter 2024 earnings, surpassing expectations. However, the company faced a drop in its bottom line, despite the estimates they exceeded. Several investors including
Victory Capital Management Inc., Van ECK Associates Corp, and
Benjamin F. Edwards & Company Inc. have increased their stake in EXPD, affirming its worth. However, some, like
New York Life Investment Management and the
Swiss National Bank, reduced their holdings. Despite encountering some challenges through the first quarter, the company's earnings and revenues beat estimations yet indicated a year over year downturn. There was headwind, instigating speculations about whether it's time to avoid the stock. Conversely, expectations are high for the company’s second-quarter earnings. Interestingly,
Federated Hermes Inc. and
SVB Wealth LLC have incremented their stake in the company despite the earnings dip. Some financial institutions expressed concerns over the hefty pricing of the company's shares against its actual worth. Meanwhile, the company's outlook seems bleak with a 20.3% drop since their last earnings report, highlighting intensified market uncertainty. Various analysts suggest an overvaluation while others predict a bullish future for EXPD. In the last five years, shareholders earned a 12% CAGR, indicating solid returns. The company is set to announce their quarterly earnings next Tuesday.
Expeditors International of Washington EXPD News Analytics from Sat, 11 Feb 2023 08:00:00 GMT to Wed, 08 May 2024 14:16:49 GMT -
Rating -3
- Innovation -2
- Information 7
- Rumor 1
